DGAP-News: RESPARCS Funding Limited Partnership I: Participation in losses and non-payment of coupons for HSH Nordbank's hybrid capital
(firmenpresse) - Resparcs Funding Limited Partnership I / Payout/Miscellaneous
15.04.2010 16:41
Dissemination of a Corporate News, transmitted by
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RESPARCS Funding Limited Partnership I: Participation in losses and
non-payment of coupons for HSH Nordbank's hybrid capital
April 15, 2010
RESPARCS Funding Limited Partnership I (the company) announces the
following:
The Company was informed by HSH Nordbank AG, Hamburg and Kiel (the bank),
that the bank reported a balance sheet loss and a net loss for 2009
business year. This means that the bank will not make any coupon payments
on hybrid instruments for the fiscal year 2009. Furthermore, such
instruments will participate in the balance sheet loss or net loss for the
fiscal year 2009.
For the instruments of RESPARCS Funding Limited Partnership I with ISIN
XS0159207850 listed on the Luxembourg Stock Exchange which are based on a
silent participation. This means that no coupon payment will be made for
the profit period 2009 and that these instruments will participate in a
balance sheet loss for the fiscal year 2009 via the silent participation.
The book value of the silent participation was reduced by 16.401 percent to
83.599 percent.
The following instrument of RESPARCS Funding Limited Partnership I is
affected:
ISIN XS0159207850 listed on the Luxembourg Stock Exchange
Issuer:
The Company, RESPARCS Funding Limited Partnership I, a limited partnership
established under the laws of Hong Kong on 26 November 2002, has acquired
with the proceeds of the Re-Engineered Silent Participation Assimilated
Regulatory Capital (RESPARC) Securities, a silent participation in the
commercial enterprise (Handelsgewerbe) of HSH Nordbank (formerly Landesbank
Schleswig-Holstein Girozentrale) in the form of a Stille Gesellschaft under
German law. The Issuer expects to fund interest payments on the RESPARC
Securities with distributions received under the Participation Agreement
and funds received from the Bank's Luxembourg branch under a loan
agreement. Interest payments are contingent on the Issuer's receipt of
Silent Participation Payments from HSH Nordbank under the Participation
Agreement.
Hong Kong, April 15, 2010
Company: RESPARCS Funding Limited Partnership I
8/F, Gloucester Tower,
The Landmark, 11 Pedder Street,
Central, Hong Kong
15.04.2010 16:41 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 15.04.2010 - 16:41 Uhr
Sprache: Deutsch
News-ID 19116
Anzahl Zeichen: 0
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Kategorie:
Business News
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